Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.021%

Price spread now: Deribit against Orderly−0.039%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Orderly Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Deribit is 0.039% cheaper against Orderly than usual: you would sell low and buy high (−$4 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_GOOGL_USDC	357.89	0.0100	pay 0.0100% / 8h	3h 14m	$10K	$11K	20x
Short	Deribit GOOGL_USDC-PERPETUAL	357.75	0	get 0.0000% / 1h	14m 36s	$24K	$156K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Orderly. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee OrderlybpFee DeribitbpOrdersPrice spread, now −0.039%Rate

Funding earned: −$21
Price spread: −0.039% → 0.000%: −$3.91
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$37.91
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Deribit: live order book, 39 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Orderly no order-book sample	—	—	—	—	—
Sell Deribit live order book, 39 min ago	0.14 bp	3.6 bp −$4	6.7 bp −$67	doesn't fit	doesn't fit

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

GOOGL on 36 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate GOOGL_USDT	0.0000%	8h	357.88	−0.003%	$3.6M	$7.4M	100x	as long as short
Bitget GOOGLUSDT	0.0000%	8h	358.02	+0.036%	$17.5M	$9.7M	100x	as long as short
SunX GOOGL-USDT	0.0000%	8h	358.05	+0.045%	$2K	$4.1M	20x	as long as short
Deribit GOOGL_USDC-PERPETUALshort	0.0000%	1h	357.75	−0.039%	$24K	$156K	10x
HTX GOOGL-USDT	0.0000%	8h	358.00	+0.031%	$115K	$217K	30x	as long as short
Phemex GOOGLUSDT	0.0000%	4h	358.11	+0.061%	$2.7M	$85K	10x	as long as short
Coinbase International GOOGL-PERP-INTX	+0.0016%	1h	357.67	−0.061%	$522K	$1.1M	10x	as long as short
Nado GOOGL-PERP	+0.0017%	1h	357.70	−0.054%	$558K	$86K	20x	as long as short
Aftermath Perps GOOGLUSD	+0.0022%	1h	357.77	−0.032%	$145K	$47K	10x	as long as short
Lighter RH GOOGL	+0.0032%	1h	357.99	+0.028%	$1.3M	$2.1M	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT GOOGL_USDT_Perp	+0.0033%	8h	358.02	+0.036%	$24K	$444K	10x	as long as short
Variational Omni GOOGL	+0.0033%	8h	357.99	+0.029%	$4.8M	$2.4M	—	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	−0.215%	$128K	$45K	30x	as long as short
Arcus GOOGL-USD	+0.0040%	1h	357.73	−0.045%	$208K	$279K	10x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	357.92	+0.008%	—	$5K	25x	as long as short
tradeXYZ xyz:GOOGL	+0.0050%	1h	357.76	−0.036%	$99.2M	$20.7M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	357.70	−0.053%	$686K	$429K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	357.81	−0.022%	$148	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	357.64	−0.070%	$2.3M	$4.9M	15x	as long as short
QFEX GOOGL-USD	+0.0064%	1h	357.89	0.000%	$1.3M	$4.2M	10x	as long as short
Paradex GOOGL-USD-PERP	+0.0068%	8h	357.87	−0.006%	$293	$253	5x	as long as short
OKX GOOGL-USDT-SWAP	+0.0082%	8h	357.94	+0.014%	$13.8M	$12.5M	50x	as long as short
Hotstuff GOOGL-PERP	+0.0088%	1h	357.81	−0.022%	$33K	—	20x	as long as short
Aster GOOGLUSDT	+0.0090%	8h	357.74	−0.041%	$366K	$426K	20x	as long as short
Pacifica GOOGL	+0.0100%	1h	357.95	+0.017%	$42K	$41K	10x	as long as short
KuCoin GOOGLUSDTM	+0.0100%	8h	357.56	−0.092%	$3.0M	$106K	20x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	357.70	−0.053%	$22K	$10K	50x	as long as short
Orderly PERP_GOOGL_USDClong	+0.0100%	8h	357.89	long leg	$10K	$11K	20x
Aevo GOOGL-PERP	+0.0104%	1h	357.91	+0.007%	$25K	—	10x	as long as short
Binance GOOGLUSDT	+0.0109%	8h	357.97	+0.022%	$72.6M	$142.6M	50x	as long as short
Extended GOOGL-USD	+0.0112%	1h	357.87	−0.006%	$419K	$1.2M	20x	as long as short
Phoenix GOOGL	+0.0179%	1h	357.75	−0.039%	$138K	$36K	20x	as long as short
Lighter GOOGL	+0.0208%	1h	357.97	+0.022%	$2.0M	$1.3M	20x	as long as short
BloFin GOOGL-USDT	+0.0229%	8h	358.03	+0.039%	$694K	$235K	20x	as long as short
Bybit GOOGLUSDT	+0.0247%	8h	358.03	+0.039%	$12.1M	$7.5M	100x	as long as short
edgeX GOOGLUSDC	+0.0533%	4h	357.99	+0.027%	$209K	$1.2M	10x	as long as short